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Customs Act — Article 60 (Proposal of Undertaking Relating to Countervailing Duties)

관세법 제60조

This English translation is based on the Korean text effective 2023-06-05. The Korean law has since been amended (current version effective 2026-10-02) — check the Korean original.

(1) Where the fact of the payment of subsidies, etc. and material injury, etc. caused thereby is made definite as a result of conducting a preliminary investigation to determine whether a countervailing duty should be assessed under Article 57, the Minister of Economy and Finance or the Government of the exporting country of the relevant goods may propose a undertaking to take appropriate measures to abolish or cut the subsidies, etc. for the relevant goods and to eliminate the effect of damaging the importing country's industry by the subsidies, etc. and the exporter of the relevant goods undertaking, with the consent of the government of the exporting country, he or she will adjust the price of the relevant goods to the extent that the effect of damaging the domestic industry by such subsidies, etc. is eliminated, as prescribed by Presidential Decree.

(2) If the proposed undertaking referred to in paragraph (1) is accepted, the Minister of Economy and Finance shall have the investigation suspended or withdrawn without taking a provisional measure or assessing a countervailing duty: Provided, That if the Minister of Economy and Finance deems it necessary to continue the investigation on damage or the Government of such exporting country requests to continue the investigation, such investigation may continue.[This Article Wholly Amended on Dec. 30, 2010]

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